BU354 Chapter Notes - Chapter 5: Delphi Method, Nominal Group Technique, Scatter Plot
Document Summary
Forecasting the amount of future hr requirements to meet the needs of the organization. Makes sure you have the right workers with the right skills at the right time. It"s important to forecast labour supply and demand so you"re not facing large costs when a position goes unfilled or paying severance costs when you need to lay off workers. Example when gov"t got rid of grade 13 in 2003 there were 2 graduating classes. Universities that planned for this and hired more staff were able to admit more new students, therefore being more successful than the ones who didn"t strategically plan. There are two sources: internal current employees who can be trained, transferred, or promoted to fulfill needs. Replacement charts identifies the top 3 candidates for senior positions if the position becomes open. Succession plan the plan to fill the most executive positions, more detailed than a replacement chart.
